NFT memorials, or blockchain gravestones as some have taken to calling them, have been in the headlines recently.

But what does the term mean?

Digital Memories

As a society, we are increasingly moving in a digital direction, and that is likely to continue throughout future generations. That means the need for digital identities is on the rise.

Recently, Dubai-based company Stonses announced plans to preserve our memories of loved ones using blockchain technology in the form of NFTs (non-fungible tokens). The company will use QR codes you can stick on any physical object to allow access to a virtual memorial, bridging that gap between physical and digital.

Traditionally, digital memories of our loved ones are scattered across multiple apps and devices. Unfortunately, we cannot always remember where they are stored, leading to some treasured mementos being lost, forgotten, or deleted accidentally.

The solution outlined by Stonses will address this issue and bring permanence to these beloved memories.

NFT Memorials

A physical item is much harder to lose, especially if it’s sentimental.

For example, if a young child passes away, you can attach a QR code to their favourite cuddly toy. The QR will take you to a digital replica of the toy and other memories. This allows you to gather important photos and other memories you keep digitally in one place; easily accessed, collected and permanent.

This gives even more meaning to the object, allows others to access memories, and removes some worry about loss or damage to the physical toy due to there being an online digital replica.

Family and friends will be able to create digital replicas of the memorial in the form of an NFT. This is then transferred via blockchain, allowing easy access to memories of loved ones.

The Future

Talking about NFT memorials, CEO of Stonses, Miha Balek, said: ‘The gift industry will reach US$43.3 billion by 2027; objects are increasingly associated with people who own, use or gift them. Digital and physical objects create digital tokens, backed by blockchain technology.

‘Our memorial platform is the first to help preserve and exchange personal belongings across generations with technology, treasured assets to be transferred with ownership based on smart contracts.’

Stonses is also using its technology to sell digital authenticity certificates and plans to implement artificial intelligence into its products. This model of using the blockchain for memorials is considered revolutionary by some, but does make you wonder how digital we, as a society, are willing to be.